The Manufacturers Life Insurance Company Takes $18.95 Million Position in NetApp, Inc. $NTAP

The Manufacturers Life Insurance Company purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 122,446 shares of the data storage provider’s stock, valued at approximately $18,950,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NTAP. Park Square Financial Group LLC increased its position in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new position in shares of NetApp in the 4th quarter worth about $30,000. DV Equities LLC purchased a new position in shares of NetApp in the 4th quarter worth about $30,000. Roble Belko & Company Inc purchased a new position in shares of NetApp in the 1st quarter worth about $31,000. Finally, Torren Management LLC bought a new position in NetApp during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NTAP. Evercore set a $210.00 target price on shares of NetApp in a research note on Monday. Susquehanna raised their price target on shares of NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Citigroup lifted their price target on shares of NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. JPMorgan Chase & Co. upped their price objective on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Wall Street Zen lowered NetApp from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 29th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $179.77.

Insider Activity

In related news, CAO Lorenzo Daniel De sold 225 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at approximately $186,488.10. This represents a 17.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 2,608 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $204.48, for a total transaction of $533,283.84. Following the sale, the president owned 46,530 shares in the company, valued at $9,514,454.40. The trade was a 5.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,297 shares of company stock valued at $8,758,016 over the last quarter. Company insiders own 0.36% of the company’s stock.

NetApp Trading Down 1.7%

Shares of NetApp stock opened at $190.64 on Friday. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $209.06. The stock’s 50-day simple moving average is $175.36 and its 200 day simple moving average is $137.69. The stock has a market capitalization of $37.41 billion, a P/E ratio of 29.97, a P/E/G ratio of 3.45 and a beta of 1.45. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.NetApp’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 EPS. As a group, research analysts anticipate that NetApp, Inc. will post 7.34 EPS for the current year.

NetApp News Roundup

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp was named a Leader in Gartner’s 2026 Magic Quadrant for Enterprise Storage Platforms and ranked first for the Hybrid Cloud Storage Use Case. The recognition could support customer confidence and strengthen NetApp’s competitive position. NetApp Named a Leader in the 2026 Gartner Magic Quadrant for Enterprise Storage Platforms
• Positive Sentiment: Analyst commentary highlighted momentum in NetApp’s Public Cloud business, driven by hyperscaler storage demand. Strong margins could create operating leverage as cloud revenue expands. Will NetApp’s Public Cloud Business Maintain Its Growth Momentum?
• Positive Sentiment: Technical coverage noted that NTAP recently moved above its 20-day moving average, a signal that could indicate improving short-term momentum and technical support. NetApp Just Overtook the 20-Day Moving Average
• Neutral Sentiment: NetApp plans to participate in upcoming investor conferences, which may provide management with an opportunity to discuss demand, cloud growth and its outlook, but no new financial information was announced. NetApp to Participate in Upcoming Conferences
• Neutral Sentiment: Comparisons with Super Micro Computer focused on relative valuation and investment appeal, offering context for investors but no company-specific change to NetApp’s fundamentals. SMCI vs. NTAP: Which Stock Is the Better Value Option?
• Negative Sentiment: The stock declined despite a stronger market session, indicating possible profit-taking or concern that its elevated valuation already reflects much of the expected growth. NetApp’s latest reported quarter also included an earnings-per-share miss, despite revenue exceeding estimates, which may keep investors focused on execution. NetApp Stock Falls Amid Market Uptick

About NetApp

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.